How can your organization get the most out of your ERP system?
CHICAGO, March 31, 2014 /PRNewswire/ -- Enterprise resource planning (ERP) platforms are meant to provide powerful competitive advantages. However, McGladrey's ERP optimization best practices: Meeting your competitive challenges explains that many ERP projects experience cost overruns and implementation delays, and ultimately fail to deliver on their projected benefits. If your organization has encountered these issues, or if your operations or business model are changing, it could be time to optimize your ERP system to enhance its value and efficiency.
ERP optimization involves adjusting and updating your ERP configuration or the processes that drive and support it. An ERP system that is not fully optimized presents several risks, including lost productivity and revenue. Other potential consequences of a poorly-tuned ERP system include resource waste, damage to your brand, a decreased competitive advantage, increased regulatory scrutiny and reduced customer satisfaction.
The need for ERP optimization can be traced to three root causes:
- Poor system implementation,
- Lack of configuration updates, despite evolving business practices, processes and technology, and
- Lost functionality due to a drain of operational knowledge and understanding.
As your business model and processes evolve to meet customer and market demands, your ERP system must be configured and optimized to support your goals and objectives. Organizations can learn about some of the common ERP challenges experienced by peers and learn to implement best practices to improve system configuration and processes by reading McGladrey's ERP optimization best practices: Meeting your competitive challenges.